MAC Solar Index Quarterly Reviews and Changes

  • Revised MAC Global Solar Energy Index methodology took effect as of the close of business on May 7, 2021. The updated Index methodology is available at: https://macsolarindex.com/methodology/

  • MAC Solar Index March 2021 Quarterly Review Changes

    As part of the regular quarterly Index review process that takes effect after the close of business on March 19, 2021, the Exposure Factor for the existing constituent Atlantica Sustainable Infrastructure (AY US) will be raised to 1.0 from 0.5. Also, the following stocks will be added to the Index (with the Exposure Factor in parenthesis): Array Technologies Inc (ARRY US) (1.0), Sunworks (SUNW US) (1.0), Soltec Power Holdings SA (SOL SM) (1.0), Fastned BV (FAST NA) (1.0), Luoyang Glass Company Limited-H (1108 HK) (1.0), GCL New Energy Holdings Ltd (451 HK) (1.0), XINTE ENERGY Co-H (1799 HK) (0.5), Beijing Enterprises Clean Energy Group (1250 HK), (0.5), United Renewable Energy (3576 TT) (1.0), TSEC Corp (6443 TT) (1.0), Motech Industries Inc (6244 TT) (1.0), Giga Solar Materials Corp (3691 TT) (1.0), Anji Technology Co Ltd (6477 TT) (1.0), Hanwha Solutions Corporation (009830 KS) (0.5), Shinsung E&G Co Ltd (011930 KS) (0.5), Doral Group Renewable Energy Resources Ltd (DORL IT) (1.0), Enlight Renewable Energy (ENLT IT) (1.0), and Energix-Renewable Energies Ltd (ENRG IT) (0.5). There are no stock deletions from the Index and no other changes.

  • MAC Solar Index Consultation Regarding Revised Index Methodology

    MAC Solar Index Consultation Regarding Revised Index Methodology

    Link to MAC-Solar-Index-Proposed-New-Index Methodology

    March 11, 2021 – MAC Solar Index is conducting a consultation with market participants on a proposal to update the Index methodology, as seen in the attached document. There are a number of proposed changes, including but not limited to: (1) raising the minimum float-adjusted market cap for initial inclusion in the Index to $250 million from the current $150 million, (2) changing to a 3-month rather than 1-month minimum average daily average of $750,000 for initial inclusion in the Index, (3) imposing specified minimums for continued inclusion in the Index of $125 million of float-adjusted market cap and a 3-month average daily trading value of $375,000, and (4) implementing environmental and governance screens. We are also soliciting feedback on whether there should be any measures adopted that seek to limit ownership of the constituent stocks that are listed in any particular country or all countries allowed by the Index methodology.

    For reference, the March 2021 quarterly Index review that takes effect after the close on March 19, 2021, will occur under the current methodology. Any changes in the Index methodology contemplated by this Index consultation will not take effect until some time after the March rebalance. See the current Index methodology at https://macsolarindex.com/methodology/.

    Questions:

    1. Please provide feedback on all aspects of the Index methodology and proposed changes, and suggest any other changes that should be considered.

    2. What would be the best timing for implementing this proposal if MAC Solar proceeds?

    Please respond to this survey as soon as possible. To participate in this consultation, please send an email to support@macsolarindex.com.
    Thank you for taking the time to respond to this consultation.

  • MAC Solar Index December 2020 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect after the close of business on December 18, 2020, the following stocks will be added to the Index: ReneSola Ltd-ADR (SOL US) with an Exposure Factor of 1.0, Beam Global (BEEM US) with an Exposure Factor of 1.0, Grenergy Renovables S.A. (GRE SM) with an Exposure Factor of 1.0, and Solarpack Corp Technologica SA (SPK SM) with an Exposure Factor of 1.0. There are no other changes.

  • Notice of MAC Solar Index Methodology Change to Add Four Countries

    November 25, 2020 – The index methodology for the MAC Solar Index will be changed to add four countries to the list of countries in which an Index constituent stock must be listed: Israel, Luxembourg, South Korea, and Taiwan. This methodology change will take effect as of the March 2021 MAC Solar Index rebalance. A public index consultation on this topic was previously issued on November 16, 2020.

  • MAC Solar Index Consultation on Index Methodology Change to Allow More Countries of Listing

    MAC Solar Index Consultation on Index Methodology Change to Allow More Countries of Listing

    November 16, 2020

    MAC Solar Index is conducting a consultation with market participants on a proposal to add to the list of countries in which MAC Solar Index constituents must be listed. The addition of more stocks to the Index would be beneficial from the standpoint of improving diversification weighting and staying well above the continued listing requirement for a global index of having a minimum of 20 stocks. The Index currently has 26 stocks.

    The MAC Solar Index currently requires constituents to be listed in one of the following countries: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. See the current Index methodology at https://macsolarindex.com/methodology/.

    MAC Solar Index is proposing to add four countries to this list: Israel, Luxembourg, South Korea, and Taiwan.

    The addition of Israel, Luxembourg, and South Korea would allow the MAC Solar Index to match a well-known standard of developed countries. Of those three countries, there is one stock in Israel at present that may qualify for inclusion in the Index and no prospective stocks at present in Luxembourg or South Korea.

    Taiwan is being proposed as a country addition because there are currently four solar stocks that trade in Taiwan that may qualify for inclusion in the MAC Solar Index.

    Questions:

    1. What are the advantages and disadvantages of adding each of the above-mentioned countries? Would the addition of any of these countries create any problems for stakeholders from any standpoint? If so, which countries and how? Should any other countries be added to the consideration?

    2. What would be the best timing for implementing this proposal if MAC Solar proceeds?

    Please respond to this survey by November 25, 2020. After this date, MAC Indexing will no longer accept survey responses.

    To participate in this consultation, please send an email to support@macsolarindex.com.

    Thank you for taking the time to respond to this consultation.

  • MAC Solar Index Constituent Change Oct 2020

    Vivint Solar Inc (VSLR:US), a constituent stock in the MAC Solar Index, is being acquired by Sunrun Inc (RUN:US), and will be dropped from the Index after the close of business on October 7, 2020, when the acquisition closes, and the proceeds will be distributed on a pro-rata weight basis to the other constituents in the Index.

  • MAC Solar Index September 2020 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect after the close of business on September 18, 2020, the following stocks will be added to the index: Renova Inc (9519 JT) with an Exposure Factor of 0.5, Meyer Burger Technology AG (MBTN SW) with an Exposure Factor of 1.0, Azure Power Global Ltd (AZRE US) with an Exposure Factor of 1.0, and Clearway Energy Inc-C Shares (CWEN US) with an Exposure Factor of 0.5. There are no other changes.

  • MAC Solar Index Constituent Change Aug 2020

    Maxeon Solar Technologies Ltd (MAXN:US) is being spun-off by Sunpower Corp (SPRW:US), a constituent stock in the MAC Solar Index, and Maxeon will be added as an independent publicly-traded company to the MAC Solar Index effective after the close on 26-Aug-2020 when the spin-off is finalized.

  • MAC Solar Index Constituent Change July 2020

    Terraform Power Inc A (TERP:US), a constituent stock in the MAC Solar Index, is being acquired by Brookfield Renewable Corp, and will be dropped from the Index as of the close of business on July 30, 2020 when the acquisition closes, and the proceeds will be distributed on a pro-rata weight basis to the other constituents in the Index via a divisor change.

  • MAC Solar Index June 2020 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect as of the close of business on June 19, 2020, West Holdings Corp (1407 JT) will be added to the index with an Exposure Factor of 0.5.

  • MAC Solar Index March 2020 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect as of the close of business on March 20, 2020, Sunnova Energy International Inc. (NOVA US) and Flat Glass Group Co. Ltd. – H shares (6865 HK) will be added to the MAC Solar Index, both with Exposure Factors of 1.0, while the following two stocks will be dropped from the index due to low liquidity: Beijing Enterprises Clean Energy Group Limited (1250 HK) and Meyer Burger Technology AG (MBTN SW).

  • MAC Solar Index December 2019 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect as of the close of business on December 20, 2019, GCL New Energy Holdings Ltd (451 HK) will be removed from the Index due to below-threshold liquidity, while Neoen SA (NEOEN FP) will be added to the Index with an Exposure Factor of 0.5.

  • MAC Solar Index September 2019 Quarterly Review Changes

    There will be no changes in the constituent stock list as part of the regular quarterly index review process that takes effect as of the close of business on September 20, 2019.

  • MAC Solar Index June 2019 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect as of the close of business on June 21, 2019, REC Silicon ASA (REC NO) will be removed from the index due to below-threshold solar revenue exposure, and Xinyi Energy Holdings Ltd (3868 HK) will be added to the index with an Exposure Factor of 1.0 as a spin-off from an existing constituent (Xinyi Solar Holdings Ltd-968 HK).

  • MAC Solar Index March 2019 Quarterly Review Changes

    There will be no changes in the constituent stock list as part of the regular quarterly index review process that will take effect as of the close of business on March 15, 2019.

  • MAC Solar Index December 2018 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect as of the close of business on December 21, 2018, China Singyes Solar Technologies (750 HK) will be removed from the index. There are no other changes.

  • MAC Solar Index September 2018 Quarterly Review Changes

    There will be no changes in the constituent stock list as part of the regular quarterly index review process that will take effect as of the close of business on September 21, 2018.

  • MAC Solar Index June 2018 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect as of the close of business on June 15, 2018, Beijing Enterprises Clean Energy Group Ltd (1250 HK) will be added to the Index with an exposure factor of 1.0.

  • MAC Solar Index March 2018 Quarterly Review Changes

    As part of the regular quarterly index review process that takes effect as of the close of business on March 16, 2018, the following two stocks will be added to the index: Enphase Energy Inc (ENPH US) and Solaria Energia (SLR SM), both with an Exposure Factor of 1.0. Also, the following two stocks will be removed from the index due to acquisition activity: Ja Solar Holdings Co Ltd ADR (JASO US) and 8point3 Energy Partners LP (CAFD US). Also, Shunfeng International Clean Energy Ltd (1165 HK) will be removed from the index.

  • MAC Solar – Constituent Change

    TerraForm Global Inc (GLBL US) will be dropped from the index effective on the close of December 29, 2017, and the weight will be distributed on a pro-rata basis to the other index constituents.  TerraForm Global is being acquired by Brookfield Asset Management.

  • MAC Solar Index December 2017 Quarterly Review Changes

    TerraForm Power Inc (TERP US) will be added to the index with an Exposure Factor of 0.5 as part of the regular quarterly index review process that will take effect as of the close of business on December 15, 2017.

  • MAC Solar Index September 2017 Quarterly Review Changes

    Hanwha Q Cells (HQCL:US) will be dropped from the index as part of the regular quarterly index review process that will take effect as of the close of business on September 15, 2017.

  • MAC Solar Index June 2017 Quarterly Review Changes

    There will be no changes in the constituent stock list as part of the regular quarterly index review process that will take effect as of the close of business on June 16, 2017.

  • MAC Solar Index March 2017 2016 Quarterly Review Changes

    As of the close of business on March 17, 2017, the following stocks will be added to the Index: (1) Scatec Solar ASA (SSO NO) with an Exposure Factor of 1.0, (2) GCL New Energy Holdings Ltd ( 451 HK) with an Exposure Factor of 1.0, and (3) Capital Stage AG (CAP GY) with an Exposure Factor of 0.5.

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